You may be wondering whether you should pounce on pet insurance. Many policyholders we surveyed seem glad they did. Fifty-three percent said they were very or completely satisfied with their carrier, and 33 percent said they were somewhat satisfied. Only 14 percent expressed any degree of dissatisfaction.
Yet when we asked them to focus on specific elements of their coverage, including price, reimbursement amounts, coverage eligibility, customer service, and other attributes, very few pet owners expressed either very high or very low levels of satisfaction. All but two of the carriers received a middling score for their customers’ most recent claim experience, the factor that contributed most to the Overall Scores.
Only 34 percent of the policyholders in our survey said they’d saved more money by having pet insurance than what they’d spent on insurance premiums and deductibles. Another 20 percent said they’d broken even.
And yet 67 percent of policyholders said they thought their pet insurance was worth the cost.
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